Following a new logo unveiling that is expected to align with a zero-emissions future, GM recently announced yet another move in the EV space, with the debut of a new business that will offer electric first-to-last-mile delivery.
GM launched a new business called BrightDrop, which will offer electric first-to-last-mile products and software and services for delivery for logistics companies. According to the auto manufacturer, there is a strong market opportunity for such a business, given that urban last-mile delivery is anticipated to expand by 78% within the next ten years, creating a 34% demand increase for delivery vehicles.
One of the first products that BrightDrop will market will be its EP1, which is an electric pallet that will move items over short distances. The EP1 has already undergone a pilot program via a partnership with FedEx Express, and is expected to become available to couriers in early 2022. The electric pallet will allow the company to process 25% more packages per day.
A second product that BrightDrop expects to offer is the EV600, which is an all-electric commercial van that will deliver packages up to a range of 250 miles. GM reveals that the EV600 will boast up to 600 cubic feet in space, and will be powered by the automaker’s Ultium battery system. GM notes that customer interest has been robust, with the first deliveries of the two products expected to take place before the end of the year.
Information for this briefing was found via GM. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.